PETALING JAYA: SapuraCrest Petroleum Bhd’s wholly-owned subsidiary, TLO Offshore Sdn Bhd, has received confirmation that it has been awarded a joint-contract for the provision of works and services to 11 Petronas production sharing contractors (PSCs) for the transportation and installation of offshore oil and gas facilities and structures from 2010 to 2012. “The price for the confirmed scope of works in 2010 is approximately RM1.5bil. “Commencement of the works is expected to be in March in various offshore locations in Malaysian waters,” it said in its filing to Bursa Malaysia yesterday. Sapuracrest said the works for the PSCs were for a duration of three years, from 2010 to 2012, with options for two further extensions of one year each. “The award of the contract will have no effect on the issued and paid-up capital of the SapuraCrest and is expected to contribute positively to the Group’s earnings and net tangible assets for the financial year ending Jan 31, 2011 and the financial periods thereafter in the duration of the contract,” it said.